Liu Han had been chairman of energy conglomerate Sichuan Hanlong Group in the southwestern province of Sichuan. The company owns stakes in Australian and US mines.
Prosecutors had painted a picture of Liu as running a vast criminal gang in the province with interests in mining, real estate and gambling. They said the group gunned down rivals, maintained fleets of several hundred cars, including Rolls-Royces, Bentleys and Ferraris, and fostered ties to prosecutors and police with drug-fuelled parties.
Police recovered three military-issue hand grenades, a half-dozen submachine guns, and firearms and knives from the gang, the official Xinhua News Agency previously reported.
Liu, his brother Liu Wei and three other men were executed at an unspecified time after their death sentences were approved by the Supreme People’s Court, according to a statement by the Xianning Intermediate People’s Court in Hubei.
The five were convicted in May last year of organising, leading or participating in a gang, as well as murder.